Earnings summaries and quarterly performance for Constellation Energy.
Executive leadership at Constellation Energy.
Joseph Dominguez
Detailed
President and Chief Executive Officer
CEO
BH
Bryan Hanson
Detailed
Executive Vice President and Chief Generation Officer
DE
Daniel Eggers
Detailed
Executive Vice President and Chief Financial Officer
JM
James McHugh
Detailed
Executive Vice President and Chief Commercial Officer
KB
Kathleen Barrón
Detailed
Executive Vice President and Chief Strategy and Growth Officer
Board of directors at Constellation Energy.
AA
Alan Armstrong
Detailed
Director
AK
Ashish Khandpur
Detailed
Director
BH
Bradley Halverson
Detailed
Director
CH
Charles Harrington
Detailed
Director
DJ
Dhiaa Jamil
Detailed
Director
EP
Eileen Paterson
Detailed
Director
JR
John Richardson
Detailed
Director
JH
Julie Holzrichter
Detailed
Director
NR
Nneka Rimmer
Detailed
Director
PO
Peter Oppenheimer
Detailed
Director
RL
Robert Lawless
Detailed
Chair of the Board
Yd
Yves de Balmann
Detailed
Director
Research analysts who have asked questions during Constellation Energy earnings calls.
DA
David Arcaro
Morgan Stanley
7 questions for CEG
Also covers: AEP, AES, ATO +35 more
JT
Jeremy Tonet
JPMorgan Chase & Co.
4 questions for CEG
Also covers: AEE, AEP, AM +46 more
PZ
Paul Zimbardo
Jefferies Financial Group Inc.
4 questions for CEG
Also covers: ATO, AWK, DTE +11 more
SP
Shahriar Pourreza
Guggenheim Partners
4 questions for CEG
Also covers: AEE, AEP, AVA +29 more
Steve Fleishman
Wolfe Research, LLC
4 questions for CEG
Also covers: AEP, CNP, CWEN +15 more
Steven Fleishman
Wolfe Research
3 questions for CEG
Also covers: AEP, CNP, CWEN +18 more
AW
Andrew Weisel
Scotiabank
2 questions for CEG
Also covers: AEP, BKH, CMS +14 more
Angie Storozynski
Seaport Research Partners
2 questions for CEG
Also covers: AGR, AWK, CMS +10 more
JW
James West
Evercore ISI
2 questions for CEG
Also covers: AMPS, BKR, BORR +12 more
SK
Sophie Karp
KeyBanc Capital Markets Inc.
2 questions for CEG
Also covers: AEE, AEP, AGR +14 more
AS
Agnieszka Storozynski
BofA Securities
1 question for CEG
Also covers: AES, AGR, AWK +11 more
DC
Durgesh Chopra
Evercore ISI
1 question for CEG
Also covers: AEE, AEP, AES +22 more
Nicholas Campanella
Barclays
1 question for CEG
Also covers: AEE, AEP, AES +33 more
Recent press releases and 8-K filings for CEG.
Constellation reports Q4 and full year 2025 results
CEG
Earnings
M&A
New Projects/Investments
- Q4 2025 GAAP earnings of $1.38 per share and adjusted operating earnings of $2.30 per share; full-year 2025 GAAP earnings of $7.40 per share and adjusted operating earnings of $9.39 per share.
- Completed acquisition of Calpine Corporation, creating the nation’s largest electricity producer by uniting nuclear, natural gas, and geothermal fleets.
- Declared a quarterly dividend of $0.4265 per share, increased the annual dividend by 10%, and plans another 10% increase in 2026.
- Calpine subsidiary signed a 380 MW agreement with CyrusOne for a new data center at Freestone Energy Center, plus an exclusive Phase 2 for an additional 380 MW.
- Secured $1 billion DOE loan guarantee for the Crane Clean Energy Center restart and NRC approval for 20-year license renewals at Clinton and Dresden stations.
Feb 24, 2026, 11:57 AM
Constellation Energy reports Q4 and full year 2025 results
CEG
Earnings
M&A
Dividends
- Constellation reported Q4 GAAP EPS of $1.38 and Adjusted (non-GAAP) Operating EPS of $2.30, and full-year GAAP EPS of $7.40 with Adjusted EPS of $9.39.
- Completed the acquisition of Calpine Corporation on January 7, 2026, combining premier nuclear, natural gas, and geothermal fleets under one platform.
- Increased the annual dividend per share by 10%, and declared a quarterly dividend of $0.4265 per share payable March 20, 2026.
- Secured NRC approval for 20-year license renewals at Clinton and Dresden stations, and DOE approved a $1 billion loan guarantee to support the Crane Clean Energy Center restart.
- Announced its 2026 guidance and strategy will be detailed in a Business and Earnings Outlook call on March 31, 2026.
Feb 24, 2026, 11:56 AM
Constellation Energy completes acquisition of Calpine
CEG
M&A
New Projects/Investments
- Constellation Energy has completed its acquisition of Calpine Corporation from Energy Capital Partners, creating the nation’s largest electricity producer with 55 GW of capacity.
- The deal combines Constellation’s zero-emission nuclear fleet with Calpine’s natural gas and geothermal generation to serve over 2.5 million retail and business customers.
- The acquisition strengthens Constellation’s footprint in Texas and California while maintaining significant operations in Illinois, Maryland, New York, and Pennsylvania, and positions the company to scale clean technologies such as advanced nuclear, geothermal, carbon capture, and long-duration storage.
- Meta plans to build a $10 billion AI data center in Louisiana powered by Constellation’s nuclear energy, highlighting growing tech sector demand for reliable, low-carbon baseload power.
Feb 17, 2026, 4:08 PM
City Electric Group closes $1.25 B global ABL revolving credit facility
CEG
Debt Issuance
- City Electric Group Limited closed a $1.25 billion senior secured global asset-based lending revolving credit facility, with Wells Fargo as agent, PNC and JPMorgan as joint lead arrangers, and Truist and HSBC as co-documentation agents.
- The five-year facility consolidates previously separate credit arrangements across the United States, Canada, the United Kingdom (including Jersey), Ireland, the Netherlands, Spain, and Australia under a single agreement.
- It enhances CEG’s liquidity and flexibility to support product availability, service levels, and continued investment in its branch network.
- CEG serves customers through over 1,200 branches globally—including 750 in North America, nearly 400 in the UK, and about 60 across Europe and Australia.
Feb 17, 2026, 12:47 PM
Constellation Energy signs 380-MW data-center power deal
CEG
New Projects/Investments
- Constellation’s Calpine unit signed a 380 MW agreement with CyrusOne to supply power and grid connectivity to a new data-center facility at the Freestone Energy Center in Texas, with an exclusive option for an additional 380 MW for a Phase 2 expansion.
- The deal builds on prior agreements, including 400 MW for the Thad Hill Energy Center, boosting CyrusOne’s contracted Texas capacity to more than 1,100 MW.
- Freestone Energy Center is part of a larger 1,036 MW natural-gas-fired power station located about 80 miles southeast of Dallas.
- Constellation completed its acquisition of Calpine earlier this year in a deal valued at approximately $26.6 billion.
- Constellation’s shares traded higher after the announcement as the company leverages its “Powered Land” approach to provide generation, land, and grid access for large-scale data-center customers.
Feb 9, 2026, 1:17 PM
Constellation and CyrusOne support new data center at Freestone Energy Center
CEG
New Projects/Investments
- Calpine LLC signed a 380-MW power agreement with CyrusOne to serve a new data center adjacent to the Freestone Energy Center in Freestone County, Texas.
- Calpine secured an exclusive agreement for Phase 2 adding another 380 MW of capacity.
- These deals complement prior 400 MW agreements at the Thad Hill Energy Center in Bosque County.
- The project leverages Constellation’s Powered Land Capabilities—integrated generation, land, and grid connectivity—to support large-load customers.
- The new facility is located ~80 miles southeast of Dallas, adjacent to Calpine’s existing Freestone Energy Center.
Feb 9, 2026, 1:00 PM
Constellation Energy Corp completes private exchange offers for Calpine notes and issues new debt
CEG
Debt Issuance
M&A
- Constellation completed private exchange offers on January 15, 2026, exchanging $2.289722 billion of Calpine’s outstanding 4.625%, 5.000% and 3.750% Senior Notes for newly issued Constellation Notes; the tendered Calpine Notes were retired and canceled.
- Concurrently, Calpine solicited and received holder consents to amend its indentures, eliminating most restrictive covenants and non-payment events of default, and entered into three supplemental indentures to effect these amendments.
- The new Constellation Notes, issued under the September 28, 2007 indenture, carry the same interest rates and maturities as the exchanged instruments: 4.625% due February 1, 2029, 5.000% due February 1, 2031, and 3.750% due March 1, 2031 (interest paid semi-annually).
- The Constellation Notes are subject to optional redemption in accordance with the terms set forth in each series’ note indenture.
Jan 15, 2026, 9:04 PM
Constellation completes Calpine note exchange offers
CEG
Debt Issuance
M&A
- Constellation’s private exchange offers and related consent solicitations for Calpine’s notes expired January 12, 2026, with $646.822 million (99.51%) of 4.625% 2029 notes, $847.698 million (99.73%) of 5.000% 2031 notes and $795.202 million (88.36%) of 3.750% 2031 secured notes validly tendered.
- The Proposed Amendments eliminate substantially all restrictive covenants (other than payment- and bankruptcy-related defaults) and will release the collateral securing the 2031 secured notes.
- All conditions for closing the exchange—including Constellation’s acquisition of Calpine on January 7, 2026—have been satisfied or waived, and settlement is expected around January 15, 2026.
- Eligible holders who tendered prior to the early-tender deadline will receive Constellation notes in equal principal amounts plus $1.00 per $1,000 for unsecured notes and $2.83 per $1,000 for secured notes; late tenders receive $970 principal amount of notes per $1,000 tendered.
Jan 13, 2026, 12:58 PM
Meta secures up to 6.6 GW of nuclear power by 2035
CEG
New Projects/Investments
- 20-year PPAs with Vistra will deliver 2.1 GW from existing Ohio reactors and fund uprates adding 433 MW.
- Deal with TerraPower funds two 690 MW Natrium reactors and rights to energy from up to six additional units by the mid-2030s.
- Oklo agreement supports development of up to a 1.2 GW advanced-reactor campus in Ohio, potentially online around 2030.
- Power from all projects will flow into the PJM grid to help run Meta’s Prometheus AI supercluster in New Albany, Ohio, slated to go online later this year.
Jan 9, 2026, 12:40 PM
Constellation completes Calpine transaction
CEG
M&A
- Constellation completed its acquisition of Calpine Corporation from Energy Capital Partners, creating the nation’s largest producer of electricity by uniting its zero-emission nuclear fleet with Calpine’s natural gas and geothermal generation.
- The combined organization serves 2.5 million customers nationwide with 55 GW of capacity—enough to power the equivalent of 27 million homes and supply about 10% of U.S. clean energy.
- The merger strengthens Constellation’s footprint in key regions including Texas, California, Illinois, Maryland, New York and Pennsylvania, and establishes a platform for scaling advanced technologies such as advanced nuclear, geothermal, carbon capture and long-duration storage.
- Constellation will maintain its headquarters in Baltimore with a significant presence in Houston, and expand community impact through more than $23 million in annual giving and thousands of volunteer hours.
Jan 7, 2026, 9:23 PM
Quarterly earnings call transcripts for Constellation Energy.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more